Bank of Canada raises key interest rate again, signals pause in rate hikes

Excluding food and shelter, the central bank is seeing declines in inflation, due to decreases in gasoline and durable goods prices, according to theThe current inflation rate sits at 6.3 per cent. The bank projects that number to decline to 3 per cent by mid-2023, with a return to its inflation target of 2 per cent in 2024.

“Unless a surprisingly strong pickup in productivity growth occurs, sustained 4 per cent to 5 per cent wage growth is not consistent with achieving the 2 per cent inflation target,” reads the report. Meanwhile, the Canadian economy grew by 3.6 per cent in 2022, higher than the bank’s projection in October. The economy is projected to stall this year, with gross domestic product sitting at 1 per cent for the year. The bank expects this slowdown will allow supply to catch up to demand.

Wages are being driven by every private sector competing with public sector for employees. Never going to improve until govt start laying off the 100s of thousands of people they have hired

l am disappointed . A 2% hike in rates is the minimum needed to put sweatshops out of business .

Taxation by inflation

We are headed straight to a recession. No doubt.

Liberal worshippers are like 'they're confiscating more money from us to help us and make our lives easier'

Clearly the bank of canada people have not gone out shopping lately.

PAUSE!

How does Tiff Macklem still have a Job? He created this inflation by creating 300 Billion in extra currency (which was the inflation) The higher prices are just a consequence of the inflation

'Higher than normal wage growth' I don't believe that for second.

The Bank of Canada has raised its overnight rate by 25 basis points, moving its policy rate to 4.5 per cent

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